- Analytics
- News and Tools
- Market News
- NZD/USD: A pause below 0.6296/6304 is likely to persist for now – Credit Suisse
NZD/USD: A pause below 0.6296/6304 is likely to persist for now – Credit Suisse
NZD/USD’s gains late last week have been halted at the 200-Day Moving Average (DMA) at 0.6296. This barrier is likely to remain a cap for now in the near term, in the opinion of analysts at Credit Suisse.
Kiwi has rejected the 200DMA at 0.6296
“NZD/USD has seen a tentative rejection of major resistance at the 200DMA and the trendline from June at 0.6296/6304. With this rejection in place and daily RSI now again hovering close to overbought levels, we think another pause is likely to unfold. That said, should a break above .here be seen and a break below the 200DMA in the DXY also take place, this would be seen to signal further medium-term strength, with next key resistance seen at the August highs at 0.6456/68.”
“Near-term support is seen at 0.6162/58 and then at the 13-Day Exponential Average at 0.6135, though only below the recent lows at 0.6062/60 would bring more near-term stability.”
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
